Piyush Goyal hopes PSU banks will overcome 'legacy issues'

Newly-appointed finance minister Piyush Goyal has expressed confidence that public sector banks, particularly those placed under the prompt corrective action (PCA) by the Reserve Bank of India, would come out of the "legacy issues" quickly and promised all Central support to them.

Goyal, who was given additional charge of the finance ministry because of Arun Jaitley's ill health, was talking to reporters after meeting the representatives of eleven PCA banks. The meeting is still on.

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"Today, we have called all banks which are placed under PCA. Eleven bankers are representing these banks to share what had happened in their banks," he said.

Goyal said he was confident that public sector banks which have played a very important role in the country's development will be able to overcome these legacy issues in a very short period of time.

"The banks will be able to continue to serve the common man through more aggressive banking, maintaining the highest standards of ethics and integrity," he said.

He said it will be ensured in the next few days that the Centre will give every possible support to further strengthen the resolve of these banks to come out of this situation as quickly as possible.